atkinson advisor

Wall Street has had a bad year on every front. And nearly everyone has suffered.

Right or wrong, the federal government stepped in to shore up the industry and save thousands of jobs.

It’s time for Wall Street to show their thanks to American taxpayers by not paying year-end bonuses. It’s the right thing to do now to show that they are committed to fixing the problems they helped cause.

Wall Street executives cry that they will lose talent. And how is that a bad thing? Are these not the same people who caused the problem in the first place? With more than 100,000 job losses, it’s also a buyer’s market in Manhattan.

The American people have a crisis of confidence in our financial system. The only way to restore that confidence is with leadership and sacrifice.

Today’s workplace is the most diverse in history, especially when considering the many generations comprising the workforce.

Each generation has a different style of communicating with co-workers and preferences for how to receive information. Keep these attitudes in mind and tailor your approach depending on the generation you’re communicating with:

• Baby Boomers (born 1946-64) grew up talking on touch-tone phones and sending letters they wrote on word processors in the mail. Many Boomers are defined by work and expected to pay their dues. They slowly but surely climbed the corporate ladder. They don’t necessarily need individual feedback on performance, but they appreciate public recognition through plaques, awards, and certificates.
• Generation X (born 1965-79) feels more comfortable questioning authority. They’re also comfortable communicating primarily via computers and cell phones. Generation X doesn’t live to work—they work to live. Instead of spending a lot of time on process, communicate the desired outcome to Gen X employees.
• Millennials (born after 1979) enjoy collaborative environments and may look to make friends with their managers. They are technologically savvy, creative, and crave feedback. Because they’re so speedy with technology, they might not take the time to think critically before crafting a response.

Next time you have to communicate difficult news, try using the “Stockdale Paradox” as a model. The term is named for Vice Admiral James Stockdale, who spent seven years as a prisoner of war during the Vietnam War. Stockdale said of that time, “You must never confuse faith that you will prevail in the end — which you can never afford to lose — with the discipline to confront the most brutal facts of your current reality, whatever they might be.” James Collins coined the term “Stockdale Paradox” to illustrate a primary leadership lesson in his book Good To Great.

Read more about James Stockdale at Wikipedia.

The Ritz-Carlton hotel chain is known worldwide for the skills its employees have to anticipate guests’ needs and create memorable experiences. Two simple formulas – one to avoid and one to embrace – can help managers drive and encourage employee innovation.

RAIN = R + A + IN

Resist the idea
Assume why the idea is flawed
Insist the idea won’t work – repeatedly

SUN = S + U + N

Suspend judgment on why the idea might not work
Understand more about the idea (“Tell me more.” or “Why are you so excited?”)
Nurture a thoughtful response and decision

http://www.glassdoor.com/

You might know how satisfied employees are with your company, but now everyone else — including competitors and recruits — can get a sneak peek. At Glassdoor.com, disgruntled and content employees write reviews about their companies, rate their CEOs, and score their overall satisfaction. Everyone who writes an anonymous review has full access to more than 14,000 companies’ posts for free. Reviews are broken down into pros, cons, and advice to senior management. Potential employees can also see salary ranges for companies by job description if they post the salary for their current position.

Guts!: Companies that Blow the Doors Off Business-as-Usual
by Kevin Freiberg

Freiberg, the well-known business author who penned the best-seller Nuts! about Southwest Airlines, advocates the notion that great leaders “gotta have guts.”

In Guts!, Freiberg advocates replacing fear-based management with heart, soul, discipline, loyalty, and humor. Among the topics covered in the book’s seven chapters are ways to brand the culture, make business heroic, and inspire fun. Whole Foods and Omnicom Group are among the examples he uses to illustrate his themes.

If you find Guts! insightful, check out the sequel in Boom! 7 Choices for Blowing the Doors Off Business-as-Usual.